Vanke reports annual loss of $6.8 bn
The property giant attributes loss to falling sales and shrinking profit.Company News Business
Emaar to pay $2.39bn dividend
The company had posted $19bn in property sales for 2024.Company News Business
OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...In December, eight OPEC+ countries announced they would start phasing out 2.2 million bpd of voluntary supply cuts from April.
The decision to stick to the alliance's timetable to unwind cuts comes after Trump said last month that he would ask Saudi Arabia and OPEC to lower oil prices.
Morgan Stanley sees upswing in MENA M&A deal volumes and values
After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts...2024 saw 1,111 M&A transactions with exposure to the MENA region, totaling US$75 billion in value
MENA outbound M&A transactions totaled US$40.2 billion, down 3 percent
Abu Dhabi records $2.88 billion in real estate transactions in January
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded AED10.6 billion in transactions in January, totaling 2,514 property deals.According...DARI real estate platform of the Department of Municipalities and Transport in Abu Dhabi, sales transactions totaled AED 6.5 billion across 1,730 deals.
Meanwhile, mortgage transactions from the beginning of the year until the end of January amounted to AED3.9 billion across 756 deals.
Rudolph Lohmeyer: The Gulf is redefining the global future, not just adapting to it
The Middle East must counter global economic divergence by enhancing regional financial integration to drive collective growth, Rudolph Lohmeyer tells...The GCC is strategically positioning itself as a neutral hub by diversifying economic and diplomatic relationships to ensure resilience, Rudolph Lohmeyer tells TRENDS
AI is expected to revolutionize productivity, scientific discovery, and governance, with the UAE and KSA making significant investments in the field, he added
‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview
Cultural and heritage tourism is on the rise, with travelers seeking genuine local experiences, from food to historical sites, her adds
‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...GCV expands WEF’s mission by bringing diverse global perspectives into Davos through digital platforms, Huang, GCV president tells TRENDS
GCV’s digital extension, in partnership with Accenture and Microsoft, fosters year-round collaboration, he adds
ADQ, Orion to establish JV
The partners commit to deploying $1.2bn in the next four years.The JV will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
The joint venture will invest in a diverse range of metals and minerals in various geographies, focusing initially on emerging markets in Africa, Asia and Latin America.
Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling
Davos, Switzerland -- In the next five years, millions of jobs will be created. Governments, employers, and education institutions, therefore,...The key report findings highlighted that there will be 78 million new job opportunities by 2030 but urgent upskilling is needed to prepare workforces.
The fastest-growing skills by 2030 will include technological skills alongside human skills, such as cognitive skills and collaboration.
Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.It acquired the 73.73% controlling interest after selling assets from Alpha Dhabi Hospitality Holding and Murban Energy Limited to NCTH in exchange for shares.
The deal Alpha Dhabi Holding’s investment in the domestic and international luxury hospitality sector and involves the transfer of four key hotel assets.
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...Lithium-sulfur batteries are about half the weight of a lithium-ion batteries, but they have twice the energy density.
These batteries work better in heat and, therefore, will be better suited to tropical countries that are expected to grow at a much faster pace.
